Latest news with #privatefunds
Reuters
2 days ago
- Business
- Reuters
US regulators push through last-minute delay to new private fund reporting rules
NEW YORK, June 11 (Reuters) - U.S. regulators scrambled on Wednesday to extend a deadline for new data reporting requirements for investment advisers to private funds, just one day before they were due to take effect. The rules, adopted by two U.S. markets regulators in February 2024, will require advisers to disclose more information to regulators in a bid to boost the government's ability to spot risks from private markets that have swelled in size in recent years. The U.S. Securities and Exchange Commission extended the deadline for compliance to later this year in a 3-1 vote on Wednesday, less than 24 hours before firms had to comply. The Commodity Futures Trading Commission also voted in favor of an extension, marking the second time the regulators decided to push back the deadline after previously postponing it in January. "Additional time is required for dialogue with filers, review of the reasonableness of the data demands, and review of the actual utility of the information collected," SEC Chairman Paul Atkins said during Wednesday's open meeting. Private funds have pressed the SEC to review this rule, among others, and have warned the new requirements are unnecessary and costly. The firms now have until October 1, 2025 to comply. The new data, which includes disclosure of events pointing to significant stress within 72 hours, would be accessible to the Financial Stability Oversight Council, which gathers top financial regulators across the U.S. government to monitor systemic risks. Regulators have cautioned for years that growing private markets could pose increasing risks, particularly as they are more opaque and less vigorously regulated than traditional markets. Federal agencies have begun a push to loosen regulations as part of Republican President Donald Trump's agenda since he took office in late January. "The SEC and other regulators, including FSOC, depend on these detailed data to better comprehend when the private markets may be experiencing turbulence that could affect our entire financial system, because these entities generally operate outside our regulatory purview," said Caroline Crenshaw, the lone Democratic SEC commissioner.
Bloomberg
2 days ago
- Business
- Bloomberg
SEC's Atkins Eyes Limits on Data Collected From Hedge Funds
US Securities and Exchange Commission Chairman Paul Atkins said Wednesday that he wants agency staff to consider narrowing the scope of data that private fund advisers would have to provide the regulator under upcoming rules. Atkins also announced that the deadline for complying with the new data reporting requirements would be delayed to Oct. 1 from June 12. But more limited data collection could be a bigger win for hedge funds and private equity firms.
Bloomberg
19-05-2025
- Business
- Bloomberg
SEC to Look at Rules for Investing in Private Funds
The Securities and Exchange Commission is taking a fresh look at rules that make it harder to invest in private funds. Atkins said he will ask agency staff to consider revising 23-year-old rules for private funds that require investments by closed-end mutual fund investors of at least $25,000 and restrict sales to those who meet certain standards. He noted those restrictions have resulted in many retail investors missing out on opportunities in closed-end funds.
Bloomberg
06-05-2025
- Business
- Bloomberg
Morningstar Will Now Call Out Lackluster Private Investments
Morningstar Inc. has been rating stock and bond funds for everyday investors for years. Now it will award gold, silver and bronze medals to less-liquid private asset funds marketed to the masses. The data firm will apply a Medalist Rating system to the booming market of semi-liquid funds that can hold private credit and equity, real estate and infrastructure assets, the firm said Tuesday in a statement. The rankings, slated to start in the third quarter, will shed light on funds that typically charge steeper fees in exchange for potentially higher returns.
